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Singtel Q2 profit plunges 77% to S$667m on absence of year-ago exceptional gain

SINGTEL’s second-quarter net profit plunged 77 per cent on the previous year to S$ 667 million, its lowest quarterly earnings in 15 years, according to results on Thursday morning.

The telco said that its performance was “adversely impacted” by negative currency movements and headwinds such as lower national broadband network migration revenues in Australia and lower associates’ contributions from Airtel and Telkomsel, on intense competition in India and Indonesia.

Singtel also chalk…
The Business Times

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